Arrival is a U.K.-based electric vehicle startup that is preparing to make electric delivery trucks for UPS. Arrival is backed by Hyundai and Kia and it is building a small-scale “microfactory” in South Carolina. The company has invested $46 million to set up its first production facility in U.S. This microfactory will be able to make as many as 1,000 battery-powered buses per year. UPS said it would buy up to 10,000 electric delivery vans from Arrival for its fleet. This deal ultimately could be worth nearly $500 million. Link to the news: https://www.forbes.com/sites/alanohnsman/2020/10/12/electric-truck-startup-arrival-putting-46-million-microfactory-in-south-carolina/#64c21d0e443f